Are These Technical Charts Useful Or Just Modern-Day Mysticism?

Since the dawn of time man has tried to make sense out of what he could not explain, even if it was clearly beyond his capacity. Over the years much of this established mythology was progressively disproved by the relentless advance of science. Yet there still exist areas of human practice where science has yet to fully penetrate. Examples: feng shui, acupuncture, and markets.

Thus we’d like to pose an open question. Are the technical charts below yet another example of modern-day mysticism? Are the patterns we see in charts merely fleeting coincidences of otherwise random systems? After all many people around the world still believe in ghosts or lucky charms due to misunderstanding their facility for self-deception.

We don’t claim to know the definitive answer, and admit that whenever it is time to buy or sell anything we’ll check the chart, no matter how fundamental we think we’re being.